Big-Business Dems are Showing Just How Scared of Elizabeth Warren They Really Are

The center-leaning members of the Democratic party are afraid of the so-called “Elizabeth Warren Wing” and are taking steps to fight back against her and her supporters. They fear that her anti-big bank and anti-Wall Street stances “could prove disastrous in the 2016 elections,” The Hill reported.

The New Democrat Coalition (NDC), a caucus made up of moderate members of the House, are working on their own economic policy platform to counter that of Sen. Warren (MA).

“I have great respect for Sen. Warren – she’s a tremendous leader,” said caucus member Rep. Scott Peters (CA). “My own preference is to create a message without bashing businesses or workers, [the latter of which] happens on the other side,” adding that if the Left is going to take back Congress, “it’s going to be through the work of the New Democrat Coalition.”

The problem with Peters’ statement, however, is that Warren doesn’t bash business as a whole. She bashes the big businesses – like Wall Street and the “too big to fail” banks – for their practices that have repeatedly damaged the American economy.

This group of moderate Democrats might be fighting against the better interest of their party.

As economist Richard Wolff pointed out during a discussion on economic rights and reform last month, Franklin Roosevelt was the only president who really went after the rich and big business, and he was the only president who was elected four times.

“Let’s see: The most popular president was the one who taxed corporations and the rich to give everyone Social Security, unemployment, and government jobs,” Wolff said.

The members of the NDC are simply afraid that if Warren and her supporters take over, they will lose the ties to big corporations that fund both their bank accounts and re-election campaigns. If they actually cared about the middle class and American workers, they would rally behind Sen. Warren, not look for ways to take her down.